SG Americas Securities LLC Raises Position in Futu Holdings Limited Sponsored ADR $FUTU

SG Americas Securities LLC raised its holdings in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,151 shares of the company’s stock after buying an additional 7,360 shares during the quarter. SG Americas Securities LLC’s holdings in Futu were worth $7,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FUTU. Diversified Trust Co. boosted its position in shares of Futu by 28.9% during the 4th quarter. Diversified Trust Co. now owns 11,025 shares of the company’s stock valued at $1,810,000 after acquiring an additional 2,469 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Futu in the fourth quarter worth approximately $61,000. NorthCrest Asset Manangement LLC bought a new position in shares of Futu in the fourth quarter worth approximately $237,000. Nordea Investment Management AB raised its stake in Futu by 18.2% in the fourth quarter. Nordea Investment Management AB now owns 6,209 shares of the company’s stock valued at $1,029,000 after purchasing an additional 957 shares in the last quarter. Finally, AIA Group Ltd purchased a new stake in Futu in the third quarter valued at approximately $382,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target for the company in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Finally, Barclays cut their target price on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $210.57.

Futu Stock Performance

FUTU stock opened at $131.37 on Tuesday. The company has a market capitalization of $18.28 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.38. Futu Holdings Limited Sponsored ADR has a one year low of $70.60 and a one year high of $202.53. The company’s 50 day moving average price is $150.48 and its two-hundred day moving average price is $164.99.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The company had revenue of $827.15 million during the quarter, compared to analysts’ expectations of $788.73 million. On average, research analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.